In a bid to enable more Ugandans to conduct fast and safe cashless transactions across the world, Post Bank Uganda in partnership with UnionPay International, the world’s largest payment cards company has unveiled UnionPay PostCard.
Unveiling the UnionPay powered debit card, Julius Kakeeto, the Managing Director PostBank said with the new payment card, PostBank customers can now transact at over 3,000 merchant points in Uganda and over 31 million merchants across 179 countries in the world.
Kakeeto added that the UnionPay PostCard is set to bring numerous benefits and convenience to many of Post Card customers across the globe.
He said that to make access seamless and fast, Post bank has rolled out instant issuance of the UnionPay PostCards to its customers in a number of the bank branches and intends to have this capability across the post bank branch network by the end of this year.
“this new safe and secure debit card will enable our customers is accepted at all the Post bank 60 ATMs but remember Post bank is joined to inter-switch and together inter-switch has got 615 ATMS in Uganda so our customers will be able to transact at the 615 ATMs spread across the country but they,” Kakeeto.
He reveals that with this unique card Post Bank customers will be able to pay for goods and services at Union pay points of sale in Uganda and across the world including the ability to shop online.
The bank has so far issued out about 150 000 cards to its customers and there is still has a long way to go because post bank has 1.2 million customers.
Representing the Central Bank Governor Emmanuel Tumusiime Mutebile at the launch, the Executive Director – Supervision Bank of Uganda, Tumubweine Twinemanzi noted that introduction of a digital product will not only enhance easy access to financial services by customers but also enable them transact safely by minimizing human interaction in the current unprecedented times of COVID19 and beyond.
Twinemazi noted that it was pleasing bear witness to Post banks commitment to a particular measure the Central bank put in place for banks to own the digitalization journey but more specifically on moving towards a cashless economy and as we launch this debit card I celebrate what’s hoped would be a long term relationship between union pay and Postbank.
‘It’s a firm belief and understanding of Bank of Uganda that access to financial services and the uptake of excluded persons is the first of many benefits with the product (Union pay Post bank) birthed by Post Bank” Twinemazi added.
According to Twinemazi, the safety protocols embedded in the UnionPay Post bank payment systems reflects on the acknowledgment of key principles in providing responsible and relevant financial services.
“of course it goes without saying that the key benefit of such financial services delivered over digital platforms or channels reduces the need for physical Human interactions to conclude or complete transactions”-says Twinemazi.
On the part of UnionPay International Africa Branch, the General Manager Luping Zhang said that, UnionPay and PostBank will soon roll out a multitude of innovative payment services.
“We have recently initiated the Money Express (International Remittance Services) project with Post Bank, that will go live later this year,” Luping noted.
Luping further remarked that, “In the future, we hope to continue to leverage the advantages of UnionPay in terms of network, products and services, and continue to strengthen cooperation with PostBank in more fields.
This partnership also contributes value in promoting mobile banking allowing PostBank customers to pay with their e-wallets in Uganda and in other countries in the region, including China, and to access other UnionPay products such as; UnionPay QR code wallets, HCE wallets, and UnionPay Contactless payment.”